EUR/SEK Down 176 Pips in Last 4 Hours, in a Downtrend Over Past 90 Days; is Inching Close to 50 Day Average

EUR/SEK 4 Hour Price Update

Updated June 19, 2020 09:21 AM GMT (05:21 AM EST)

EUR/SEK entered the current 4 hour candle at 10.5415, down 176 pips (0.17%) from the last 4 hour candle. Relative to other instruments in the Forex asset class, EUR/SEK ranked 35th the last 4 hour candle in terms of percentage price change.

EUR/SEK End of Day Recap

Updated 00:30 GMT (04:30 EST)

The back and forth price flow continues for EUR/SEK, which started today off at 10.5534, down 41 pips 0.04% from the day prior. Out of the 40 instruments in the Forex asset class, EUR/SEK ended up ranking 33rd for the day in terms of price change. Below is a price chart of EUR/SEK.

EUR/SEK Technical Analysis

The first thing we should note is that the current price of EUR/SEK is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 50 day average, which is 210.3 pips away. It should be noted, though, the 100 day simple moving average turned downwards, which may be a bearish sign. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. It should be noted, though, that a trend in the opposite direction, going down, exists on the 90 day timeframe. Or to simplify this another way, note that out of the past 30 days EUR/SEK’s price has gone up 17 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!